Taboola.com (NASDAQ:TBLA) Shares Gap Up – What’s Next?

Taboola.com Ltd. (NASDAQ:TBLA) gapped up prior to trading on Thursday . The stock had previously closed at $3.30, but opened at $3.50. Taboola.com shares last traded at $3.59, with a volume of 245,680 shares trading hands.

Wall Street Analysts Forecast Growth

TBLA has been the subject of a number of recent research reports. Benchmark reiterated a “buy” rating and issued a $5.00 target price on shares of Taboola.com in a report on Monday, October 7th. Needham & Company LLC reaffirmed a “buy” rating and set a $5.00 price target on shares of Taboola.com in a report on Friday, November 8th. Four investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus target price of $5.31.

Taboola.com Price Performance

The company has a current ratio of 1.31, a quick ratio of 1.31 and a debt-to-equity ratio of 0.14. The firm has a market capitalization of $1.07 billion, a PE ratio of -35.90 and a beta of 1.28. The company has a fifty day moving average price of $3.35 and a two-hundred day moving average price of $3.49.

Taboola.com (NASDAQ:TBLA) last posted its earnings results on Thursday, November 7th. The company reported ($0.02) earnings per share for the quarter, missing the consensus estimate of $0.02 by ($0.04). The firm had revenue of $433.10 million during the quarter, compared to analysts’ expectations of $429.43 million. Taboola.com had a negative net margin of 1.96% and a negative return on equity of 1.68%. During the same period in the previous year, the firm posted ($0.02) earnings per share.

Insider Activity at Taboola.com

In other Taboola.com news, Director Lynda M. Clarizio sold 29,606 shares of the business’s stock in a transaction that occurred on Thursday, August 29th. The stock was sold at an average price of $3.61, for a total transaction of $106,877.66. Following the transaction, the director now owns 176,158 shares in the company, valued at approximately $635,930.38. The trade was a 14.39 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 22.40% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Taboola.com

Several institutional investors and hedge funds have recently added to or reduced their stakes in TBLA. Millennium Management LLC grew its holdings in shares of Taboola.com by 32.3% in the 2nd quarter. Millennium Management LLC now owns 1,339,987 shares of the company’s stock worth $4,610,000 after acquiring an additional 327,518 shares during the period. Tidal Investments LLC purchased a new stake in Taboola.com in the 1st quarter valued at approximately $806,000. Algert Global LLC purchased a new position in shares of Taboola.com during the 2nd quarter worth $1,020,000. Tredje AP fonden purchased a new position in shares of Taboola.com during the 2nd quarter worth $1,376,000. Finally, Vanguard Group Inc. lifted its stake in shares of Taboola.com by 2.7% during the 1st quarter. Vanguard Group Inc. now owns 660,112 shares of the company’s stock worth $2,931,000 after purchasing an additional 17,216 shares during the period. Institutional investors and hedge funds own 42.89% of the company’s stock.

About Taboola.com

Taboola.com Ltd., together with its subsidiaries, operates an artificial intelligence-based algorithmic engine platform in Israel, the United States, the United Kingdom, Germany, and internationally. It offers Taboola, a platform that partners with websites, devices, and mobile apps to recommend editorial content and advertisements on the open web to users.